https://www.wsj.com/articles/weworks-ceo-makes-millions-as-landlord-to-wework-11547640000
One of the landlords behind the building was no ordinary owner: It was Adam Neumann, WeWork’s chief executive, who leased the property to WeWork after buying it, according to people familiar with the situation.
Mr. Neumann has made millions of dollars by leasing multiple properties in which he has an ownership stake back to WeWork, one of the country’s most valuable startups. Multiple investors of the privately held company said the arrangement concerned them as a potential conflict of interest in which the CEO could benefit on rents or other terms with the company.
Ahem: 🤣🤣🤣🤣
Between this, the community adjusted EBITDA, and the branding as a "state of consciousness" rather than a workplace I'd personally like to nominate this for most entertaining to watch business startup of the year.
E: also lots of* concern. I'm leaving it. If they can remove expenses from EBITDA then I can spell shit wrong.
Submitted January 16, 2019 at 01:23PM by MasterCookSwag http://bit.ly/2Hj5JQq
